Manufacturers Are Gambling Competitive Advantage with Slow Digital Investments and Lack of ROI

Manufacturers Are Gambling Competitive Advantage with Slow Digital Investments and Lack of ROI

IFS has recently released the findings of an IDC InfoBrief, which was sponsored by IFS and titled "Shaping the Future of Manufacturing." The report highlights the state of digital transformation (DX) in the manufacturing sector, an industry of significant importance to IFS. The research involved surveying 160 senior decision-makers from manufacturing companies in Europe, the Americas, and Asia, aiming to identify key areas where manufacturers can drive growth by examining their future investment plans, IT strategies, and the challenges they face.

The study reveals that manufacturers continue to face major hurdles, such as rising labor costs (61%), increasing expenses for raw materials (42%), and supply chain issues (42%). These obstacles remain at the top of their priority list. However, while manufacturers are focused on tackling these immediate challenges, they have been unable to fully differentiate their operations. As disruptions persist with no immediate relief in sight, manufacturers must adjust their business models and shift their attention to areas that extend beyond their traditional core domains.

Read the full article from IFS here.